NASDAQ OMX NLX secures founding participant support ahead of launch

First Published 30th May 2013

Banks, clearing, brokerage and trading firms to contribute to the provision of liquidity and open interest at NLX

Charlotte Crosswell, CEO, NLX

"With this group's support, we look forward to launching and growing NLX over the coming months and years."

London - NASDAQ OMX NLX, the new London
market, has secured the support of a wide range of founding
participants including banks, clearing, brokerage and trading
firms who will contribute to the provision of liquidity and open
interest at NLX.

NLX will offer market participants the ability to trade futures
in 3-month EURIBOR, 3-month Sterling, Long Gilt, 2-year Schatz,
5-year Bobl and 10-year Bund on a single market underpinned by
NASDAQ OMX infrastructure. Trades will clear through a horizontal
clearing model, creating portfolio margining opportunities with
the full suite of products at LCH.Clearnet.

"We have put in place a strong group of participants for the
launch of NLX from leading organisations in the market", said
Charlotte Crosswell, Chief Executive Officer of NLX. "As we see
regulation in EMIR, MiFID ll, Dodd-Frank and Basel III become a
reality; we are keen to support our clients and their customers
with solutions that create greater efficiency and opportunities
in their trading and clearing activities. As a low cost market
with the flexibility and infrastructure to deliver those
solutions rapidly, we are well placed to serve our clients' needs
in this evolving market structure. With this group's support, we
look forward to launching and growing NLX over the coming months
and years."